As of totals of June 2005 the amount of trading sessions at the credit section of the Baku Interbank Currency Exchange (BBVB) comprised 41,826bn mantas in manats, or 2,24 times more than May, Trend reports
In June 17 interbank credit deals were concluded in the in the credit section of BBVB, including 7 which amounted to 10,726m manats registered at the
Organized Interbank Credit Market, functioning within the framework of the Exchange Electron Trading System (BEST). Rates of interbank crediting at the organized interbank credit market comprised 11.88% per annum.
In June a credit section in BBVB held 5 auctions of the National Bank of Azerbaijan (NBA) on placement of centralized credit resources. The amount of borrowings in this segment of the market comprised 31,100m manats. The auction rate of crediting, defined by the NBA, was 7.5% per annum.
As of 1 July, the average rate of placement of 90-day credits (BakIBOR), is calculated on the base of bids submitted by 16 leading commercial banks of Azerbaijan, made up 14.77% per annum in manat resources, and 17.20% in manat resources. As compared to data fixed as of 1 June, BakIBOR index on manats and dollars remained unchanged.